Foster & Motley Inc. Cuts Stake in Cencora, Inc. $COR

Foster & Motley Inc. reduced its stake in Cencora, Inc. (NYSE:COR) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,990 shares of the company’s stock after selling 220 shares during the period. Foster & Motley Inc.’s holdings in Cencora were worth $2,396,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of COR. GAMMA Investing LLC grew its stake in shares of Cencora by 57.0% in the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company’s stock worth $1,598,000 after acquiring an additional 2,087 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock valued at $307,000 after purchasing an additional 48 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Cencora during the first quarter valued at $202,000. CWA Asset Management Group LLC lifted its holdings in shares of Cencora by 9.8% during the first quarter. CWA Asset Management Group LLC now owns 1,715 shares of the company’s stock valued at $477,000 after purchasing an additional 153 shares in the last quarter. Finally, Institute for Wealth Management LLC. bought a new position in shares of Cencora during the first quarter valued at $229,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Up 1.7%

COR stock opened at $324.83 on Friday. Cencora, Inc. has a fifty-two week low of $223.92 and a fifty-two week high of $325.70. The business’s 50-day moving average is $300.30 and its two-hundred day moving average is $293.23. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The company has a market cap of $62.98 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 1.52 and a beta of 0.63.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. During the same quarter in the prior year, the company earned $3.34 earnings per share. Cencora’s revenue was up 8.7% on a year-over-year basis. As a group, analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is 22.63%.

Insider Activity

In other news, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the transaction, the chief executive officer owned 39,274 shares of the company’s stock, valued at $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the transaction, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,025 shares of company stock worth $14,831,784 in the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded Cencora from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Wells Fargo & Company upped their price target on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Evercore ISI set a $340.00 price target on Cencora in a report on Wednesday, October 8th. Morgan Stanley set a $330.00 price target on Cencora and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Finally, Mizuho upped their price target on Cencora from $316.00 to $334.00 and gave the company an “outperform” rating in a report on Thursday. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average price target of $324.91.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.